These bonding services provided a means for auction sellers to bond for their performance in auctions conducted on Overstock.com's site. The plaintiff dismissed the suit when Overstock.com's bonding service provider resolved concerns with the plaintiff.
Thursday, August 28, 2008
Overstock.com Auctions Continues to Build Trust in its Marketplace
Overstock.com, Inc. announced it has been dismissed from a recently filed lawsuit alleging patent infringement. The suit, brought by Transauction LLC against Overstock.com and four other internet auction companies, alleged infringement based on Overstock.com's use of a third party's auction bonding services on the Overstock.com auction site (http://auctions.overstock.com/).
Posted by Brian Scott at 12:13 PM